PBI Enters Discussions; Attempts to Acquire Ready to Serve Cocktail
NEW YORK, July 24, 2012 (GLOBE NEWSWIRE) -- Panache Beverages, Inc. (OTCQB:WDKA), an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands, today announced that it has entered in to material discussions to acquire VnC Cocktails. The contemplated deal paves the way for Panache brands to immediately access the 30 countries VnC is presently distributed.
Shane McKillen, founder and managing director, comments, "We are very excited to be engaged in this process with Panache and believe our history of success together foreshadows great opportunity." Shane McKillen and James Dale were previously in partnership together as the US importer of 42 Below; that relationship ended when 42 Below sold to Bacardi Ltd in December 2006.
VnC Cocktails Ltd was established in 2007; the private NZ based company handles manufacturing, sales and marketing of the all natural, gluten free, low calorie ready to serve line of cocktails now available in 30 countries and 24 US states. The company has experienced triple digit growth in the past three years and has forecasted sales of 200,000 cases for FY2012.
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About Panache Beverages, Inc.
Panache Beverages, Inc. (OTCQB:WDKA), based in New York, NY is an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands establishing its assets as viable and attractive acquisition candidates for the major global spirits companies. Panache intends to build its brands as individual acquisition candidates while continuing to develop its pipeline of new brands in to the Panache portfolio. Panache's existing portfolio contains three brands: Wodka Vodka (www.welovewodka.com), Alchemia Infused Vodka (www.alchemiainfusions.com) and Alibi American Whiskey (www.alibiamerica.com).
For more information visit: http://www.panachespirits.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate," "project" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Further information on Panache Beverages' risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-KSB for the year ended December 31, 2011 and the Form 10-QSB filed March 31, 2012. Panache Beverages does not undertake any duty nor does it intend to update the results of these forward-looking statements.
CONTACT: Investor Contact: Gerald Kieft The WSR Group 772-219-7525 (tel) IR@theWSRgroup.com www.wallstreetresources.net/panache.aspSource: Panache Beverage, Inc.